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GRINCHES
CONTROLLING PAY DAY LENDING INTEREST RATES

Our first Grinch list appeared on Sunday December 17, 2006 The Cleveland Plain Dealer carried a hard-hitting story by Consumer Affairs reporter Sheryl Harris. She wrote about the stealth-like theft of our consumer rights by state legislators in a lame-duck session.

With apologies to Dr. Seuss, we called our list of Northern Ohio state legislators who voted for SB 117 our Grinch list because they stole from us just before Christmas, Hanukkah and Kwanzaa.

The most recent consumer measure, House Bill 545, limits interest charged by pay-day lenders to 28 percent per year. (They have been charging at the rate of more than 300 percent per year,) Some web research, with the help of Cheryl Harris, found the names of  those who voted against HB 545. With strong bipartisan support it passed the Ohio House on April 13, 2008 and the Senate on May 14.

Will our legislators be bold enough to restrict bank overdraft fees which some say are as high as pay-day lending costs, or even higher?

Grinch image 19372007
Dr. Seuss Properties

 
 

THE GRINCH LIST
These Ohio Legislators have voted NO
on putting a cap on payday lending interest rates.

 Name

District

Hometown

Party

 Senators      
 Steve Buehrer, 01 Delta Republican
 Larry Mumper 26 Marion Republican
 Robert Schuler 07 Sycamore Twnshp Republican
 Bill Seitz 08 Cincinnati Republican
       
 Representatives      
 David Daniels 86 Greenfield Republican
 Clyde Evans 87 Rio Grande Republican
 Bob Gibbs 97 Lakeville Republican
 Cliff Hite 76 Findlay Republican
 James Zehringer 77 Mercer Republican
 
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